Mumbai: eBay Inc is stepping up investment in India to boost its share of a market dominated by domestic players such as Flipkart and fend off encroachment from arch-rival Amazon.com.
The e-commerce company dipped a toe into the Indian market seven years ago and stuck with a cautious approach, even as local upstarts made splashy grabs for business in a tiny but growing market.
"The talks of us having missed the bus are exaggerated," Muralikrishnan B, country manager for Silicon Valley-based eBay told Reuters in an interview in Mumbai.
"Most of the new business models are just waiting to implode. We have chosen the cautious route, unlike a lot of Indian businesses who are blindly investing money without having an eye on sustainability or profitability," he said....more
02:23 AM, Apr 28, 2012